PMC to give Rs 1 cr for PSCDCL proj

ST Correspondent
Saturday, 6 January 2018

As per the funding arrangement in the project, the Central government is supposed to release Rs 100 crore, while the State government and the civic body have to pay their share of Rs 50 crore each year.

PUNE: The Standing Committee of the Pune Municipal Corporation (PMC) has approved Rs 1 crore for the smart city development corporation, from PMC’s share, for the project undertaken in the Central government’s flagship Smart City mission. 

As per the funding arrangement in the project, the Central government is supposed to release Rs 100 crore, while the State government and the civic body have to pay their share of Rs 50 crore each year. So far, the Central government has released Rs 194 crore and State government has released Rs 93 crore. The civic body has released Rs 100 crore. To avail the funds from World Bank, the company must match the funds released by the Central government’s grant.

As Pune Smart City Development Corporation Limited (PSCDCL) has received a lesser amount from the State government, therefore, the company did not qualify for receiving funds from World Bank. 

To fulfil this criterion, the CEO of the company, Rajendra Jagtap, had asked the PMC to approve Rs 1 crore from next year’s fund for the project. Accordingly, Municipal Commissioner Kunal Kumar submitted this proposal. 

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